Medicare is wonderful, but it comes with a catch. Under the standard Medicare model, also known as Medicare Part D, you receive prescription benefits with a possible gotcha. Once your drug costs exceed $3,750 in 2018, and $3,820 in 2019, you enter what is known as the donut hole and pay much more for your prescriptions. The issue is how that benefit is used up. You would think that Medicare, as the single largest buyer of prescription drugs in the US, would leverage its buying power with pharmaceutical companies. Alas no. Congress passed a law that specifically prohibits Medicare from negotiating drug prices. Instead it is left to the insurance company that administers your Medicare Part D plan to negotiate prices. One massive Medicare group becomes many smaller groups with less buying power and leverage.

Run your prescriptions through RxWidget. In many instances, the cash price at the pharmacy listed in RxWidget will be much less than the charge against your Medicare Part D benefits. Use your Medicare Part D benefits for branded and specialty drugs and RxWidget for the rest to make your benefits go further to help keep you out of the donut hole.